Comstock Resources (NYSE:CRK) PT Raised to $10.00 at Truist Financial

Comstock Resources (NYSE:CRK) had its target price boosted by equities research analysts at Truist Financial from $9.00 to $10.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s price objective suggests a potential downside of 10.43% from the stock’s previous close.

CRK has been the subject of a number of other research reports. Wolfe Research assumed coverage on shares of Comstock Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho cut their target price on Comstock Resources from $11.00 to $10.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. KeyCorp began coverage on Comstock Resources in a research report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Finally, Piper Sandler cut Comstock Resources from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $8.00 to $5.00 in a report on Thursday, August 15th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.75.

Comstock Resources Trading Up 0.3 %

Shares of Comstock Resources stock opened at $11.17 on Monday. Comstock Resources has a 1 year low of $7.07 and a 1 year high of $13.39. The company’s fifty day simple moving average is $10.20 and its 200-day simple moving average is $10.24. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 50.75 and a beta of 0.48. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21.

Comstock Resources (NYSE:CRK) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The company had revenue of $246.80 million during the quarter, compared to the consensus estimate of $296.02 million. Comstock Resources had a negative net margin of 1.48% and a negative return on equity of 1.38%. The company’s revenue was down 14.4% compared to the same quarter last year. As a group, sell-side analysts expect that Comstock Resources will post -0.37 EPS for the current year.

Insider Buying and Selling

In other Comstock Resources news, major shareholder Star Exploration Corp Blue bought 825,868 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $8.82 per share, for a total transaction of $7,284,155.76. Following the transaction, the insider now owns 197,298,165 shares of the company’s stock, valued at approximately $1,740,169,815.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Drilling L.P. Arkoma purchased 1,044,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average cost of $10.93 per share, for a total transaction of $11,413,106.00. Following the transaction, the insider now directly owns 204,495,146 shares of the company’s stock, valued at approximately $2,235,131,945.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Star Exploration Corp Blue acquired 825,868 shares of Comstock Resources stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $8.82 per share, for a total transaction of $7,284,155.76. Following the purchase, the insider now directly owns 197,298,165 shares in the company, valued at $1,740,169,815.30. The disclosure for this purchase can be found here. Insiders acquired a total of 6,712,733 shares of company stock valued at $67,816,851 over the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new stake in Comstock Resources during the 2nd quarter worth approximately $32,000. EverSource Wealth Advisors LLC raised its holdings in shares of Comstock Resources by 2,533.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,582 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 3,446 shares during the period. GAMMA Investing LLC lifted its position in Comstock Resources by 428.9% in the 1st quarter. GAMMA Investing LLC now owns 4,771 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 3,869 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Comstock Resources by 2,161.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 4,929 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 4,711 shares during the period. Finally, Headlands Technologies LLC bought a new position in Comstock Resources during the 1st quarter worth about $91,000. 36.13% of the stock is currently owned by institutional investors.

About Comstock Resources

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.